6. Deputy Noel McCarthy asked the Minister for Finance further to Parliamentary Question No. 270 of 18 February 2025, to provide an update on his Department’s consideration of the Funds Sector 2030 report recommendations; and if he will make a statement on the matter. [28158/25]

Sentiment score: -0.07

I thank the Minister for his response. I believe the funds sector review to be an important contribution to the continued success of the asset management and investment fund sector in Ireland. According to the Central Bank, approximately €162 billion was held in deposit at the end of March 2025, earning relatively little for the Irish taxpayer. Recent reports have highlighted that Irish investors are increasingly turning to foreign banks in search of higher returns and more favourable tax treatment. At the same time, there is a wide range of Irish-based funds available, but the current tax regime is reportedly discouraging investment. In this context, I am given to understand there are potential economic implications for the domestic funds sector. Will the Minister provide a clear timeframe for the implementation of the recommendations set out in the Funds Sector 2030 report?

Sentiment score: 0.13

I compliment the Minister and his Department on the work they have done so far. I understand it is a complex case and will take multiple budgets to iron out.

Sentiment score: 0.24